Current price: 33038
Key point: 32800
Our preferred direction: buy positions at the highest levels of 32800, targeting 33600 as the first target, then 34300 as the second target.
Alternative scenario: Stop loss and change the trend by breaking the 32800 level, targeting 32500 levels
Technical commentary
The US Dow Index is moving in a downward direction on the daily frame from the peak of last July until it reached the pivotal support levels 32600-32800.
There is a harmonic BAT pattern with a greater than 88% Fibonacci retracement of XA leg
It is expected - if the price develops appropriate price behavior - that the price will rise from these levels, heading towards the resistance levels 33600.
